The chairman of the FDIC said it is calling for as much as $50 billion in new Home Ownership Preservation Loans to pay down a portion of more than 1 million mortgages. President Bush said 1.4 million foreclosures have been prevented by the HOPE NOW program since the program was launched, according to a White House press briefing. Operation HOPE Inc. announced it has helped more than 8,396 borrowers so far. The National Association of Realtors outlined a number of steps its members are taking to reduce foreclosures, a press release said.
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